As a local REALTOR® I've watched governments introduce one housing policy after another over the past several years. The intention behind many of these policies has been understandable—improve affordability, reduce speculation, and help more Canadians achieve homeownership.

But when I read recent discussions surrounding the foreign buyer ban, investor restrictions, development charge reductions, and government proposals to purchase unsold condo inventory, I can't help but wonder whether we are seeing long-term planning or simply reactionary policymaking.

What stands out most is that even the development industry doesn't appear to agree on the problem, let alone the solution.

Some developers argue that government policies designed to discourage investors have gone too far and have contributed to today's weak condo market. Others believe reducing development charges is the answer. Some support government purchasing unsold inventory, while others are uncomfortable with what could be perceived as a bailout.

If industry leaders themselves are divided, shouldn't governments be spending more time collaborating with builders, developers, lenders, economists, municipalities, and housing professionals before introducing major policy changes?

Too often it feels like policy is being driven by headlines rather than by a coordinated long-term strategy.

For years, Canadians were told that housing prices were rising because there was too much speculation, too much investor activity, and too much foreign capital entering the market. Governments responded with foreign buyer restrictions, vacancy taxes, speculation taxes, anti-flipping measures, and increased regulations targeting investors.

Now we find ourselves in a market where many developers are struggling to sell projects, and some are suggesting we need investors back to make projects viable again.

To the average Canadian, that can feel contradictory.

One argument I do understand is that Canada still faces long-term housing supply challenges. We need homes today, but we also need homes that will be completed three, five, and ten years from now. If projects don't get built, future supply could become a problem.

However, I believe there is another question that deserves equal attention.

If inventory is increasing and buyers have more choice than they've had in years, why are so many people still sitting on the sidelines?

In my conversations with buyers, the issue isn't always a lack of inventory.

Many are concerned about affordability. Others are waiting for more certainty around interest rates. Some are worried about the broader economy, job security, or future market direction. In many cases, buyers aren't stepping back because there aren't enough homes available—they're stepping back because they aren't yet comfortable making a major financial commitment.

I understand the concern that fewer projects today could lead to supply shortages in the future. However, from what I'm seeing on the ground, the more pressing question is why buyers remain hesitant despite having more choice and negotiating power than they've had in years. Before we focus solely on stimulating new supply, we should also be asking what is preventing demand from returning to the market.

Before governments spend billions of taxpayer dollars on new programs, perhaps the first step should be bringing all stakeholders to the table and examining the unintended consequences of previous decisions.

What impact did foreign buyer restrictions have? What impact did anti-investor policies have? How much of today's slowdown is tied to interest rates, affordability, consumer confidence, or economic uncertainty?

These are complex questions that deserve thoughtful analysis.

Housing is too important to be managed through a cycle of reacting to today's problem and then reacting again to the consequences tomorrow.

What Canadians need is a clear, coordinated housing strategy that balances affordability, supply, responsible development, and taxpayer accountability. That strategy should be informed by the people who build homes, finance homes, sell homes, and ultimately live in them.

Because if there is one thing recent housing debates have shown, it's that solving one problem without understanding the broader consequences can often create another.

It's that time of year again! Property taxes are due in most BC municipalities on July 2, 2026, and homeowners should make sure they not only pay their property taxes on time but also apply for the BC Home Owner Grant if they qualify. Missing either step could result in unnecessary penalties and interest.

Don't Forget to Apply for the Home Owner Grant

One of the most common misconceptions is that the Home Owner Grant is automatically applied each year. It isn't.

Eligible homeowners must apply annually to receive the grant. Even if you've qualified in previous years, you still need to submit a new application each year before your property tax due date.

For homeowners in the Fraser Valley, the regular grant can reduce property taxes by up to $570. Higher grant amounts may be available for seniors, veterans, and individuals with disabilities who meet the eligibility requirements.

Who Is Eligible?

Generally, you may qualify for the Home Owner Grant if:

• You are the registered owner of the property.

• The property is your principal residence.

• You are a Canadian citizen or permanent resident.

• You live in British Columbia.

• Your property's assessed value falls within the provincial eligibility thresholds.

Additional grants may be available for:

• Homeowners aged 65 and older.

• Veterans.

• Persons with disabilities.

• Certain spouses or relatives of qualifying homeowners.

Selling Your Home? Don't Worry About Paying the Taxes

Every year I hear concerns from sellers whose homes are on the market:

"What if I pay my property taxes and then my home sells shortly afterward?"

The good news is that property taxes are adjusted as part of the closing process. If you have already paid the year's property taxes and your home sells later in the year, your lawyer or notary will calculate the portion attributable to the buyer's ownership period. The buyer then reimburses you for their share through the Statement of Adjustments completed at closing.

In other words, paying your property taxes now does not mean you're paying the buyer's taxes too. The adjustment process ensures everyone pays their fair share based on their period of ownership.

What Happens If You Miss the Deadline?

Many municipalities impose significant late-payment penalties on unpaid property taxes after the due date. Importantly, if you qualify for the Home Owner Grant but fail to apply before the deadline, penalties can still be charged on the grant portion because the grant is considered part of your property tax payment.

Final Reminder

Before July 2nd, make sure you:

✓ Review your property tax notice.

✓ Apply for the Home Owner Grant if eligible.

✓ Pay any remaining balance owing.

✓ Keep confirmation records for your files.

A few minutes of attention now can save you from costly penalties later.

As always, if you're buying, selling, or have questions about how property taxes are handled during a real estate transaction, feel free to reach out. I'm always happy to help.